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💎Binance's statement on restrictions on some currencies:
Binance, the world's largest cryptocurrency exchange, issued a new announcement within the scope of MiCA stablecoin rules.
On June 3, Binance issued an announcement on its official website, announcing that it would comply with MiCA's stablecoin rules, which is considered a turning point in the EU's cryptocurrency industry regulation.
Binance said that the MiCA stablecoin rules will take effect in the European Economic Area (EEA) on June 30, and investors in the region will be affected.
It is said that within the framework of the new rules, which are expected to have a significant impact on the stablecoin market, only certain licensed companies can offer stablecoins to the public. Binance said that some stablecoins may not be included in this scope and may be restricted. The stablecoins in question will be described as "not allowed stablecoins."
Against this background, the exchange announced that it will make changes to allow users in the European Economic Area to switch to licensed stablecoins to comply with stablecoin rules.
Binance said that from June 30, unauthorized stablecoins can only be sold through its "convert" platform. Binance said that there is no problem with spot trading until further notice, and said that it will continue to provide custody services for unauthorized stablecoins.
Many transactions (such as Copy Trade, Launchpool, Earn) will not be able to be carried out using the relevant stablecoins. It is said that services such as so-called margin, pledge and credit trading can continue until the end of the period.
These restrictions will cover investments in the European Economic Area.
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